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27.06.2024
BTA BANK JSC AND THE CITY OF ALMATY OBTAIN COMPLETE WIN FROM AN AMERICAN JURY AGAINST CONSPIRATORS OF MUKHTAR ABLYZOV AND VIKTOR KHRAPUNOV
Following a three-week trial, a jury of four men and five women sitting in the United States District Court for the Southern District of New York returned a jury verdict today in favor of the City of Almaty, Kazakhstan, and BTA Bank JSC on all claims against Felix Sater, Bayrock Group, Inc., Global Habitat Solutions, and MeM Energy Partners LLC. The jury ruled in favor of the City of Almaty and BTA Bank on claims of conversion, unjust enrichment, and money had and received, and also awarded punitive damages against Sater as punishment for his particularly morally culpable conduct. In total, the jury awarded the City of Almaty and BTA Bank more than USD $32,000,000, including interest—a figure in excess of what BTA and Almaty asked for in compensatory damages. The jury deliberated for less than half a day. The Honorable John G. Koeltl, United States District Judge for the Southern District of New York, presided over the trial and received today’s verdict.